Millennials lag behind: Young entrepreneurs made just £500m out of £28bn while selling their firms July 18, 2022 More than £28bn was made by individuals selling their businesses in the past year, but just £550m was from those under 34. Those under 25 cashed in with only £27m in gains, representing under one per cent of the total, according private wealth law firm Boodle Hatfield. The next bracket up, those aged 25-34 were [...]
Pandemic-born businesses could add over £20bn to UK economy, study shows July 7, 2022 Businesses started during the Covid pandemic could add £20.4bn to the UK economy as the number of start-ups during the pandemic grew. About 800,000 companies were registered in the first year of the pandemic in the UK, 22 per cent more than the year before, a joint report by CBI Economics and NatWest showed. 80 [...]
Follow the money: Property market’s peak starts to push investors towards startups and small businesses February 22, 2022 Investment habits have changed rapidly over the last few years in the UK, with individuals leaning on investments to provide them with passive income. Property investing has been seen as a stable investment over the past decade. The UK housing market has registered substantial growth over the past few years, causing property investing to become [...]
A quarter of the UK’s unicorns were created in 2021 alone as the tech sector shines December 20, 2021 New data shows how UK tech boomed in 2021, raising £26bn, doubling last year’s figures and creating a record number of unicorns.
Asian food-focused delivery startup HungryPanda raises $130m December 17, 2021 London-headquartered HungryPanda, a food delivery startup that caters for Asian restaurants and populations overseas, has today announced it’s closed a $130m Series D funding round – just over a year after its $70m Series C. Its latest round was led by the family-backed private equity and growth investor Perwyn, alongside investors Kinnevik, Felix Capital, 83North, [...]
Cazoo announces revenue boom as second-hand car demand soars October 26, 2021 Cazoo announces third-quarter success, as their offering resonates with second-hand buyers and a growing delivery culture. The used-car retailer report a growth in revenue up 267 per cent YoY, to £174.4m in Q3. Within this, retails revenues were up 207 per cent YoY, with a gross profit of £11.8m, up by £12.5m compared to Q3 [...]
File-sharing platform WeTransfer shows strong third-quarter as workforce remains remote October 26, 2021 WeTransfer reports a strong third-quarter, as clients remain digital and remote.
Exclusive: NatWest-backed Updraft raises £72m in latest funding round October 19, 2021 NatWest-backed Updraft, an app which aims to help people get out of debt, has raised £72m in its latest funding round as it eyes expansion. The fintech firm, which is looking to lend £200m to UK customers next year, allows customers to connect their bank accounts and view their debts from across credit cards and [...]
Exclusive: Meet the UK’s 50 fastest-growing startups October 12, 2021 A total 50 of the most promising high-growth tech firms in the UK have been named as the country’s top scaleup companies by tech group Silicon Valley Comes to the UK (SVC2UK). Smart employee app Blink, charity fundraiser Enthuse, and digital health platform supporting under-served areas of healthcare, Pepp, were among the firms selected for [...]
Mental health startup BetterUp trebles value to $4.7bn since hiring Prince Harry October 10, 2021 BetterUp, the mental health startup which hired Prince Harry earlier this year, has raised $300m from investors, trebling its valuation to $4.7bn (£3.5bn) in just eight months. The company’s recent funding round was led by Iconiq Capital – an investment fund who have managed Mark Zucherberg – Wellington Management and Lightspeed Venture Partners, The Sunday [...]